Accounting Help 11

Please complete tab 22-10-B at the bottom of spreadsheet. I need it asap.

Below please find the data for P 22-10B.
P 22-10B (LO4)
✓ 2. Carrying value, Sept. 30, Year 2: $579,600
 BONDS ISSUED AT A DISCOUNT Brandon, Inc., issued the following bonds at a discount:

Date of issue and sale:
April 1, 20-1
Principal amount:
$600,000
Sale price of bonds:
96
Denomination of bonds:
$1,000
Life of bonds:
10 years
Stated rate:
7%, payable semiannually on September 30 and March 31

REQUIRED
1. Prepare journal entries for:
(a) Issuance of the bonds at a discount.
(b) Interest payment and discount amortization on the bonds on September 30, 20-1.
(c) Year-end adjustment on the bonds for 20-1.
(d) Reversing entry for the beginning of 20-2.
(e) Interest payments and discount amortization on the bonds for 20-2 (March 31 and September 30).
2. Calculate the carrying value of the bonds on September 30, 20-2.

22-

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1

0AJournal

Sept.

The table for part 2 is in a separate worksheet (tab).

Problem 22-10A

Name:

1.

GENERAL JOURNAL

Date

Account

Debit

Credit

20-1

April

Sept.

Adjusting Entry

Dec.

20-2

Reversing Entry

Jan.

Mar.

2.

22-10A Table

Problem 22-10A Name:
2.

/20-2

	Discount on Bonds Pay. Bal.			Carrying Value of Bonds
	4/01/20-1
	9/30/20-1
	3/			31
	9/30/20-2

Enter as a formula
Enter as a formula

22-10BJournal

Name:

1.
GENERAL JOURNAL
Date Account Debit Credit
20-1
April
Sept.
Adjusting Entry
Dec.
20-2 Reversing Entry
Jan.
Mar.
Sept.

	Problem 22-10B
	2. The table for part 2 is in a separate worksheet (tab).

22-10BTable

Problem 22-10B Name:

2.

Credit

Balance

Discount on Bonds Pay. Bal. Carrying Value of Bonds

Date
4/01/20-1

,000

9/30/20-1

3/31/20-2

9/30/20-2

	Interest Expense Debit	Discounts on Bonds Pay. Credit		Cash			Bonds Payable
$			800	$	24,000
	1,200
18,000

Enter as a formula
Enter as a formula

22-9Ajournal

GENERAL JOURNAL

Date Account Debit Credit

20-1

Mar. 1 Cash

Bonds Payable 800,000

24,000

31

Bonds Payable 1,200

Adjusting Entry

Dec. 31 Bond Interest Expense

Premium on Bonds Payable 800
Bond Interest Payable

20-2 Reversing Entry

Jan. 1 Bond Interest Payable 21,333
Bond Interest Payable 800
Bond Interest Payable 20,533

Bond Interest Expense

Bond Interest Payable

Premium on Bonds Payable

Aug. 31 Bond Interest Expense

Bond Interest Payable 32,000

Premium on Bonds Payable

2. The table for part 2 is in a separate worksheet (tab).

824,000
			Premium on Bonds Payable
	Aug.				Bond Interest Expense	308,000
						Bond Interest Payable	20,000
	20,533
	21,333
Feb.	28	10,667
	32,000
400
30,800
12,000

Quickbooks

ANSWER THE FOLLOWING QUESTIONS WITH A SHORT ANSWER. USE COMPLETE
SENTENCES AND CORRECT GRAMMAR AND SPELLING! Please begin to type your response in the
row directly beneath the question.

QUICKBOOKS CHAPTERS 1 & 2 ASSIGNMENT
Chapters 1 & 2 in your QuickBooks text walk you through the installation of the software, creating a new
company, and familiarizing yourself with the software features.
	ANSWER THE FOLLOWING QUESTIONS WITH A SHORT ANSWER. USE COMPLETE
	SENTENCES AND CORRECT GRAMMAR AND SPELLING! Please begin to type your response in the
	row directly beneath the question.
Indicate True or False next to the first two questions, then click on the arrow and select True or False.
___________1. After registration the QuickBooks Pro 2010 Student Trial Edition software will operate for 140 days
___________2. The new company that you created, Your Name Retailers, Inc. is a sole proprietorship.
1. What is the purpose of backup and restore?
2. Why is an audit trail important for good internal control?
3. Name three ways that a user can access QuickBooks help.

22-9A Table

Interest Expense Debit

Carrying Value of Bonds

Date

Premium on Bonds Pay. Debit	Cash Credit	Bonds Payable Balance	Premium on Bonds Pay. Bal.
3/01/20-1
8/31/20-1
2/28/20-2
8/31/20-2

Enter as a formula
Enter as a formula

Grading Rubric

5 points

5 points

*requirement 1 5 points
*requirement 2 5 points

*requirement 1 5 points
*requirement 2 5 points

10 points

Week 4 Grading Rubric
Point Available	Points Earned
P22-9A Total	1						5 points
		*requirement 1
		*requirement 2
P22-10A Total	15 points
P22-10B Total		10 points
Quickbooks Assignment
Total Score